Filing Flows › Industrials › Voyager Technologies (VOYG)
Voyager Technologies (VOYG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Voyager Technologies (VOYG) Q3 2026 earnings results →
Q3 2026 Revenue up 124% year over year to $88.7M · 66¢ of every $1 of revenue lost · operating margin -69.8%
Voyager Technologies made $88.7M in Q3 2026 (+124% Y/Y). Operating margin -69.8%, net loss $58.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $88.7M in Q3 2026, up 124% year over year and up 68% from the previous quarter.
Gross margin was 11.5%, down 3.9 points from Q3 2025. Operating costs exceeded revenue by $61.9M, an operating margin of -69.8%. Operating expenses grew 139% against revenue growth of 124%. The fastest-growing cost line was Research & development (+438%). The quarter ended with a net loss of $58.4M, wider than the previous quarter's $48.7M loss. Minority interests bore $2.7M of it: to shareholders the quarter was a loss of $55.7M.
Operating cash flow was −$29.7M. Non-cash charges added back $10.0M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $13.6M. Capital expenditures of $28.2M exceeded it, leaving free cash flow of −$57.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $88.7M | +124% | -69.8% | −$58.4M | −$29.7M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $52.7M | +16% | -97.5% | −$48.7M | −$44.3M |
| Q1 2026 | 10-Q | May 5, 2026 | $35.2M | +2% | -126.7% | −$45.9M | −$39.7M |
| Q4 2025 | 10-K | Mar 10, 2026 | $46.7M | +24% | -72.9% | −$33.0M | −$15.0M |
| Q3 2025 | 10-Q | Nov 4, 2025 | $39.6M | 0% | -60.7% | −$18.3M | −$15.1M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $45.7M | +25% | -52.8% | −$33.1M | −$16.5M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
Customers and suppliers named in filings
Sells to
- U.S. government — 84% of its revenue · Stated in 10-K (sentence) · source
About Voyager Technologies
We are a purpose-built, innovation-driven defense technology and space solutions company focused on delivering mission-critical solutions across national security, space exploration and infrastructure and commercial space markets. Our company was purpose-built to address some of the most complex and consequential challenges facing the defense and space sectors, where technological leadership, operational execution and long-term resilience are essential. Our work is designed to strengthen national security, protect critical assets and enable sustained human and economic activity in space.
In its own words, from its 10-K, filed Mar 10, 2026.
Voyager Technologies against its Guided Missiles & Space Vehicles & Parts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +124% against the peers' median +11%. Operating margin: -69.8% against the peers' median -44.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| VOYG Voyager Technologies | Q3 2026 | $88.7M | +124% | -69.8% |
| LMT Lockheed Martin | Q3 2026 | $20.7B | +11% | 11.8% |
| KTOS Kratos Defense & Security Solutions | Q3 2026 | $472M | +36% | -1.0% |
| RKLB Rocket Lab | Q2 2026 | $234M | +62% | -24.6% |
| FLY Firefly Aerospace | Q2 2026 | $118M | +657% | -80.9% |
| RDW Redwire | Q3 2026 | $109M | +5% | -24.1% |
| YSS York Space Systems | Q2 2026 | $92.5M | +10% | -44.6% |
| HLEO Helio | Q3 FY26 | $591K | -25% | -92.5% |
| MNTS Momentus | Q2 2026 | $25K | -87% | n/m |
Source: Voyager Technologies 10-Q on SEC EDGAR · CIK 1788060 · Guided Missiles & Space Vehicles & Parts
Guidance and outlook
13F: who owns VOYG and who is buying
More on VOYG
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results